The S&P/ASX 200 ended last week flat after giving up earlier gains following the High Court's ruling on eligibility of MPs. The S&P 500 advanced 0.2%, with strong advances in the technology sector. The EURO STOXX 50 added 1.3% as the ECB announced an extension of its bond-buying programme, while in Japan the Nikkei 225 gained 2.6% following Abe's conclusive election victory. Japan-focused ETFs (IJP and UBJ) were amongst the top performers for the week returning over 4%.
The Australian dollar dropped to its lowest levels since July, declining 1.8% to below US 77c. The euro dropped 1.5% on lower rate expectations.
WTI crude gained 4.7% on concerns of OPEC supply cuts. Precious metals declined for the week in-line with US dollar strength, though gold ended the week strongly in response to political tensions in Spain.
The Australian ETF market saw inflows of A$75m and outflows of A$126m from domestically domiciled ETFs last week. The largest inflows were into cash and fixed income funds (AAA, QPON and PLUS), while the majority of outflows were from SPDR S&P/ASX 200 Fund (STW).